Probate threshold changes in New Zealand
Since 2009, New Zealand has required a formal High Court probate application for any estates where a sole-owned asset exceeded $15,000 – no matter how small the estate was overall. This probate threshold was set long before the rise of KiwiSaver and has long been regarded as outdated.
That is about to change. From 24 September 2025, the probate threshold will increase to $40,000. This is the first adjustment in more than 15 years.
Why the change to probate threshold matters
The probate threshold is the value limit that determines whether a deceased person’s estate can be managed without applying for probate through the High Court. When an estate has assets over the threshold, probate (or sometimes letters of administration) is required before banks, KiwiSaver providers, or other institutions will release funds.
With KiwiSaver balances and asset values steadily growing, the $15,000 limit often results in probate being required for estates that are relatively small. The increase to $40,000 means many families will be able to access funds like KiwiSaver or bank accounts more quickly, without seeing a large part of the estate consumed by the High Court process.
What the new threshold means in practice
| Situation | Effect Under Old Threshold | Effect After 24 September 2025 |
| Sole-owned bank or KiwiSaver assets under $15,000
| No probate required | No probate required |
| Sole-owned assets between $15,000 – $40,000
| Probate required | No probate required (if no property) |
| Estates with property or high-value assets over $40,000
| Probate required | Probate still required |
Do I still need a Will?
Yes!
This change does not replace the need for proper estate planning. Even with the higher threshold, having a valid Will remains essential – regardless of whether your personal assets fall below $40,000.
If you die without a Will, your assets are distributed under the intestacy rules, and your estate might require letters of administration – which is often more complex and costly than probate.
Key takeaway
On 24 September 2025, New Zealand’s probate threshold will rise from $15,000 to $40,000. This long-overdue reform means many smaller estates can now be administered more simply and cost-effectively, ensuring more of the estate passes to beneficiaries.
However, this increase does not replace the importance of careful estate planning. A clear, up-to-date Will remains the best way to protect your wishes and ease the burden on your loved ones.
If you would like advice on how this change may affect you or your family, or if you would like to review your asset planning, please get in touch with our Wills and Estates team.